Unit4, which makes cloud ERP software, has released the latest version of its financial planning and analysis software, adding artificial intelligence-powered forecasting and planning functionality.

Unit4’s new tool, Smart Forecaster, extends forecasting ability to business users across the enterprise. The tool uses historic data combined with influence factors and scenarios.

Also new is the Solution Builder, a tool that provides modeling capabilities, enabling finance teams to respond to new business needs and requirements such as cost center calculations, changes in profit and loss, and scenario planning.

“Finance teams have always played a central role in helping set strategy and build plans by the nature of the function,” said Unit4 CFO Gordon Stuart in a statement. “With the onset of market changes as a result of COVID-19, the need now to evaluate and often reshape those plans, at a moment’s notice, has become core to what FPA teams are asked to do. Unit4 FPA with its new Smart Forecaster and Solution Builder functionality has armed them with the ability to do it quickly and accurately. And that, coupled with enhanced dashboarding and visualization capabilities, makes complex data-based information accessible and understandable to those that need to understand it and, in turn, expedites the decision-making process and velocity with which new or revised strategies are set in motion.”